You can study simultaneously but ensure that you do NOT take two degrees in the same academic year in distance mode .. if you want to do MA and B.ED at the same time than you can take admission in B.ED as distance mode and MA course as regular mode ..

Some best B.ED colleges :
Amity Institute of Education
Army Institute of Education
AURA Institutions
B. K. Institute of Education & Technology
International Women Polytechnic
Jamia Millia Islamia - Faculty of Engineering
Kalka Institute For Research & Advance Studies (KIRAS)
National Institute Of Management Science & Research
Pradeep Memorial Comprehensive College of Education
Punjab Technical University Delhi Centre
Shyama Prasad Mukherjee College
Siddhi Vinayak College of Science and Hr Education
College Of Education, Delhi University
Department of Education Shri Lal Bahadur Shastri Rashtriya Sanskrit Vidyapeetha
Excel Institute of Management & Technology
Faculty of Education - University of Delh
Gargi College
Guru Gobind Singh Indraprastha University
Guru Nanak College of Education
Kamal Institute of Higher Education and Advance Technology
Kasturi Ram Global Institute of Professional Studies
Krishna Institutes
Lady Irwin College
Lady Shri Ram College for Women
Lingaya's Lalita Devi Institute of Management & Sciences (LLDIMS)
Maharishi Valmiki College of Education
C E S College of Educational Research and Training
Central Institute of Education Delhi University
Guru Ram Dass College of Education
Indira Gandhi National Open University